Federated Hermes Inc. Decreases Holdings in CECO Environmental Corp. (NASDAQ:CECO)

Federated Hermes Inc. trimmed its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 21.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 129,748 shares of the company’s stock after selling 34,802 shares during the quarter. Federated Hermes Inc.’s holdings in CECO Environmental were worth $2,631,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CECO. Wellington Management Group LLP raised its holdings in shares of CECO Environmental by 271.2% during the 3rd quarter. Wellington Management Group LLP now owns 629,146 shares of the company’s stock valued at $10,047,000 after buying an additional 459,646 shares in the last quarter. First Eagle Investment Management LLC purchased a new position in shares of CECO Environmental during the 3rd quarter valued at about $7,037,000. Loomis Sayles & Co. L P purchased a new position in shares of CECO Environmental during the 3rd quarter valued at about $6,891,000. RK Capital Management LLC raised its holdings in shares of CECO Environmental by 36.6% during the 3rd quarter. RK Capital Management LLC now owns 884,347 shares of the company’s stock valued at $14,123,000 after buying an additional 237,093 shares in the last quarter. Finally, EAM Investors LLC purchased a new position in shares of CECO Environmental during the 3rd quarter valued at about $2,907,000. 68.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Roth Mkm raised their price objective on CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Needham & Company LLC lifted their price target on CECO Environmental from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Northland Securities lifted their price target on CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Finally, HC Wainwright lifted their price target on CECO Environmental from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $26.50.

Insider Transactions at CECO Environmental

In other CECO Environmental news, Director Laurie Siegel acquired 2,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average cost of $19.87 per share, for a total transaction of $49,675.00. Following the transaction, the director now owns 7,906 shares in the company, valued at $157,092.22. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 15.80% of the company’s stock.

CECO Environmental Price Performance

Shares of CECO Environmental stock opened at $25.32 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.39 and a quick ratio of 1.22. The business’s 50 day simple moving average is $22.50 and its two-hundred day simple moving average is $20.20. The stock has a market capitalization of $882.91 million, a P/E ratio of 68.43, a price-to-earnings-growth ratio of 1.75 and a beta of 1.23. CECO Environmental Corp. has a one year low of $10.68 and a one year high of $25.73.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings data on Tuesday, March 5th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $153.71 million for the quarter, compared to analyst estimates of $149.10 million. CECO Environmental had a return on equity of 11.57% and a net margin of 2.37%. During the same period last year, the company earned $0.21 EPS. Analysts forecast that CECO Environmental Corp. will post 0.96 EPS for the current year.

CECO Environmental Profile

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.